Salix Ventures
300 Brickstone Square Suite 504, Andover, MA, 01810, United States
Overview
We invest exclusively in health care services and health care information technology companies. We are stage-agnostic, investing in companies seeking their first round of institutional venture capital as well as more mature companies seeking later-stage rounds. We do not make seed-stage investments, requiring that the companies in which we invest have some operational base already in place in an industry with a demonstrated proof of concept. We prefer investment opportunities that already have the CEO on board who is capable of guiding the company through liquidity. On average, we invest $5-7 million per company, and we typically invest half of that amount in the first round of funding with similar amounts reserved for future private financing rounds. When we invest at an early stage of a company's development, we pursue a more conservative reserve policy, investing less per first round than many other comparable-sized funds. We believe that this strategy mitigates the increased risk inherent at that stage of investment and positions Salix Ventures to be a dependable participant in later rounds. We always invest with at least one other, high-quality, institutional venture investor in every investment. When we make later-stage investments, we seek those opportunities where an exceptional management team is in place and there are other strong investors already involved. We expect to be as active an investor in our later-stage investments as we are in our early-stage investments.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Investment portfolio
- Aethon
Participated · Equity · Apr 2010
Aethon develops TUG® smart autonomous mobile robots and MedEx™ software to automate intralogistics in hospitals, delivering and tracking medication, meals, linen, equipment and supplies. The company launched commercially in 2004 and has deployed over 400 TUG robots performing more than 50,000 deliveries each week across U.S. hospitals. Aethon positions its solutions to improve safety, security and efficiency while freeing clinical staff for direct patient care. It plans to expand its U.S.-based sales force, increase marketing, and grow business development efforts in foreign markets with support from strategic investors. Aethon has received capital from corporate backers and venture firms, including Mitsui USA, the Bosch Group and Trident Capital. Aethon is a developer of autonomous mobile robots and accompanying logistics and tracking software for hospitals, selling its TUG robots and the MedEx medication tracking/delivery system. The company launched into the commercial market in 2005 and is based in Pittsburgh. Nearly 400 TUG robots have been deployed across 135 hospitals, collectively logging more than 50,000 deliveries each week. TUGs transport medication, meals, linens, equipment, supplies and lab specimens, and Aethon positions its platform as a technology-based logistics solution to improve safety and efficiency. The company plans geographic expansion, citing discussions into Europe following a 2010 strategic partnership with the Bosch Group and exploring Asian markets with support from new investor Mitsui USA. Financially, Aethon announced $7.1 million in growth capital in its latest round, part of which came from Mitsui & Co. (USA) Inc. Aethon develops mobile robotics for hospital supply chain logistics, offering departmental and hospital-wide applications that automate the movement of goods such as medications, supplies, meals, and equipment. Its systems aim to improve asset utilization and ensure regulatory compliance. The company recently raised $6.6M to accelerate sales expansion and new product development. Bosch will support engineering efforts as Aethon adds product extensions and scales production capabilities. Aethon is pursuing opportunities to embed its technology in the global healthcare marketplace as it commercializes hospital logistics automation.
Team
No current team members are available.